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Gaps in a bank’s wire transfer fraud program open the institution to significant risk including financial loss, compliance issues, lawsuits, and more. Gather your team and existing program while we get down-and-dirty with the most common deficiencies in bank programs and discuss tips to create a program that meets your strategic objectives while protecting the bank and its customers from unnecessary risk.
Attendees will review guidance and true cases where banks suffered financial losses for failures to properly implement provisions under the UCC, and discuss how implementing security controls can strengthen a bank’s defences.
In this session we will explore:
- Most common wire transfer frauds affecting customers and banks*
- Gaps that expose a bank to financial loss and risk
- Important contract provisions
- Security controls demonstrating success at detecting fraud
- Practical tips for implementing FFIEC guidance
- Recent shifts in wire transfer fraud insurance coverage
- Tips for successful customer education
Learning Level: Intermediate – *Suggest an understanding of the types of wire fraud as these are not defined or covered in-depth. The focus is more on the bank’s wire fraud program, not fraud types.
AAP and CERP credits
- Guidance and resources list
- Internal training quiz with separate answer sheet
- Wire Transfer Program checklist – top 10 considerations for community banks
WHO SHOULD ATTEND:
Auditors, compliance officers, frontline personnel, wire transfer personnel, deposit operations management and personnel, security officers
Your webinar video will be available soon...
Wire Transfer Fraud Prevention Programs
FDIC Internet Banking Authentication
Money Laundering Red Flags
Quiz with Answers
Questions and Answers